IntelliPharmaCeutics Intl (IPCI) Downgraded by Zacks Investment Research to “Sell”

IntelliPharmaCeutics Intl (NASDAQ:IPCI) (TSE:I) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Intellipharmaceutics International Inc. is engaged in the research, development, and commercialization of controlled-release and targeted pharmaceutical products. Its products include Effexor XR and Protonix. The Company offers products in different stages of development in therapeutic areas, including neurology, cardiovascular, and GIT. Intellipharmaceutics International Inc. was formerly known as IntelliPharmaCeutics Ltd. and is based in Toronto, Canada. “

IPCI has been the subject of a number of other reports. Mackie upgraded shares of IntelliPharmaCeutics Intl to a “hold” rating and increased their target price for the stock from $1.00 to $3.10 in a report on Tuesday, September 26th. ValuEngine lowered shares of IntelliPharmaCeutics Intl from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $2.37.

IntelliPharmaCeutics Intl (IPCI) remained flat at $$0.75 during trading on Wednesday. The stock had a trading volume of 155,961 shares, compared to its average volume of 303,198. IntelliPharmaCeutics Intl has a 12-month low of $0.70 and a 12-month high of $3.12.

A hedge fund recently raised its stake in IntelliPharmaCeutics Intl stock. Advisor Group Inc. increased its stake in IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) (TSE:I) by 57.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,409 shares of the company’s stock after buying an additional 17,342 shares during the period. Advisor Group Inc. owned 0.16% of IntelliPharmaCeutics Intl worth $100,000 at the end of the most recent reporting period. Institutional investors own 3.38% of the company’s stock.

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About IntelliPharmaCeutics Intl

Intellipharmaceutics International Inc is a Canada-based pharmaceutical company engaged in the research, development and manufacture of controlled-release and targeted-release oral solid dosage drugs. Its Hypermatrix technology is a multidimensional controlled-release drug delivery platform that is applied to the development of a range of existing and new pharmaceuticals.

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